Peanut Is Coming to Turkey
Send money to anyone via FAST — Turkey's instant payment system. No TC Kimlik No needed. Sign up to get notified.
Turkey sits at the crossroads of Europe and Asia, and its payment infrastructure reflects that energy. FAST (Fonlarin Anlik ve Surekli Transferi) — the Central Bank of Turkey's instant payment system — enables 24/7 real-time transfers across every major Turkish bank. But for the millions of Turkish diaspora members in Germany, the Netherlands, and the UK sending money home, traditional remittance channels are slow and expensive. And for tourists visiting Istanbul or the Mediterranean coast, accessing local payment systems without a TC Kimlik No (Turkish national ID number) is a major barrier.
Peanut will change that. When we launch in Turkey, you will be able to send money via FAST to any Turkish bank account — instantly, at the market rate. No TC Kimlik No, no Turkish bank account, no residence permit. Just verify with your passport in under 2 minutes. For the massive Germany-to-Turkey corridor and other European routes, Peanut will offer a faster, cheaper alternative to traditional remittance services. For travelers, it will mean plugging into Turkey's banking infrastructure without the usual paperwork.
How It Will Work
- 1
Deposit from anywhere
Send digital dollars from any exchange or wallet via Solana, Arbitrum, Base, Tron, or Ethereum. Gas fees covered. Or deposit from your bank via SEPA (Europe), ACH (US), or wire transfer. All deposits are free.
- 2
Your balance stays in dollars
Your balance will be held in digital dollars until you spend. In a country with significant lira volatility, holding dollars until the moment of payment gives you control over timing.
- 3
Pay via FAST
Send money to any Turkish bank account using an IBAN, phone number, or TR ID number. Your dollars will convert to lira at the market rate. No fees from Peanut.
- 4
Instant arrival
The recipient will receive lira in their bank account instantly — 24/7, including weekends and holidays. FAST processes transfers in real time across all Turkish banks.
What Payment Methods Are Coming
FAST (Turkey's Instant Payment System)
FAST is Turkey's central bank-operated instant payment system, launched in 2021 by the Central Bank of the Republic of Turkey (TCMB). It enables real-time bank-to-bank transfers across all major Turkish banks — including Ziraat Bankasi, Is Bankasi, Garanti BBVA, Akbank, Yapi Kredi, QNB Finansbank, and many more. Transfers work 24/7 with no downtime, using IBAN, phone number, Turkish ID number, email, or tax number as identifiers.
FAST is rapidly becoming the backbone of everyday payments in Turkey. The central bank has mandated participation from all banks, ensuring universal reach. QR-based merchant payment functionality is also being rolled out, which will expand FAST from primarily person-to-person transfers into retail payments.
How it will work with Peanut: Open the Peanut app and enter the recipient's IBAN, phone number, or TR ID number. Review the amount in TRY and the exchange rate. Confirm — the funds will arrive instantly in the recipient's Turkish bank account via FAST.
No TC Kimlik No needed. Opening a Turkish bank account and accessing FAST normally requires a TC Kimlik No (for citizens) or at minimum a tax number and residence permit (for foreigners). Peanut will accept passport verification from any country — no local ID, no Turkish bank account required.
Full guide: Pay with FAST in Turkey
Exchange Rate: What to Expect
The Turkish lira has experienced significant inflation and depreciation in recent years, making exchange rate timing especially important. When you send money to Turkey through traditional banks or remittance services, hidden markups and slow processing times mean the recipient often receives substantially less than you intended.
Peanut will convert digital dollars to lira at the market rate — a direct conversion that avoids the markup layers built into card transactions and traditional transfers. For the Germany-to-Turkey corridor, this means your euros deposit via SEPA, convert to digital dollars, then convert to lira at the market rate when you choose to send.
Rate lock: The rate you see on the confirmation screen will be the rate applied. It will lock at the moment of payment — no slippage, no surprise adjustments.
No fees. Peanut will charge nothing on deposits, payments, or withdrawals. The rate is the rate. Gas fees on network deposits and withdrawals are covered by Peanut.
Compare rates across services:
Who Will Use Peanut in Turkey
Remittances (Germany, UK, Netherlands)
Turkey has one of the largest diaspora communities in Europe — roughly 3 million in Germany alone, with significant populations in the Netherlands, France, and the UK. The Germany-to-Turkey corridor is one of Europe's biggest remittance flows. Traditional services charge 3-7% in combined fees and exchange rate markups. Bank wires take 1-5 business days and cost $25-80. And the lira's volatility means every day of delay can mean real money lost to depreciation.
Peanut will let you send money from Europe to Turkey instantly via FAST. Deposit euros via SEPA (free, arrives in under 20 minutes), and send to any Turkish bank account at the market rate. The recipient gets lira in seconds — not days. For a family sending 500 euros to Turkey every month, cutting out the 5% middleman markup means an extra 300 euros per year in the recipient's pocket.
Cross-Border Travelers
You are traveling to Turkey from Germany or the UK — one of the most common travel routes in Europe. Without a TC Kimlik No, accessing local payment systems is limited. Your credit card works at hotels and larger establishments, but smaller restaurants, local shops, and the Grand Bazaar prefer cash or local bank transfers. ATM withdrawals come with foreign transaction fees, and the exchange rates at airport counters are terrible.
Peanut will let you send money to your own Turkish bank account (if you have one) or pay anyone directly via FAST. Hold your balance in dollars and convert to lira only when you need to — avoiding the risk of lira depreciation while your money sits waiting to be spent.
Info
Get Notified
Peanut is not yet live for spending in Turkey, but you can sign up now to be the first to know when we launch. When the service goes live, you will be able to send money via FAST to any Turkish bank account — instantly, at the market rate, without local ID.
Today, you can already use Peanut to deposit and withdraw digital dollars in Turkey via supported networks (Solana, Arbitrum, Base, Tron, Avalanche, Polygon, Ethereum). FAST integration for local payments is what is coming next.
Verification: When FAST integration launches, you will verify with a passport or national ID card from any country. No TC Kimlik No required. Verification takes under 2 minutes for most users, powered by Persona (SOC 2 Type 2, GDPR, ISO 27001). Peanut never sees or stores your identity documents.
